Encore Medical, which makes transcatheter implants to repair cardiac defects, announced terms for its IPO on Tuesday.
The Eagan, MN-based company plans to raise $15 million by offering 3 million shares at a price of $5. At the proposed price, Encore Medical would command a market cap of $49 million.
Because the company is expected to have a market cap of less than $50 million at pricing, Encore Medical will be excluded from Renaissance Capital's IPO stats.
The company develops and manufactures septal occlusion devices, which are implantable products delivered via catheter to repair certain cardiac defects, such as patent foramen ovale (PFO). Encore’s devices are approved for sale in the European Union, and while it does not have regulatory approval to sell its devices in the US, the company has received approval from the FDA to conduct trials to obtain market clearance.
Encore Medical was founded in 2017 and booked $2 million in revenue for the 12 months ended September 30, 2025. It plans to list on the NYSE American under the symbol EMI. Oak Ridge Financial and Dawson James are the joint bookrunners on the deal.
